AAA Financial Accounting and Reporting Section

Section Bylaws

Contents:

I. Name of Organization
II. Status of the Organization
III. Purpose and Objectives
IV. Membership
V. Officers and Duties
VI. Compensation
VII. Meetings
VIII. Publications
IX. Amendments

I. Name of Organization

The name of this organization shall be the Financial Accounting and Reporting Section of the American Accounting Association.

II. Status of the Organization

This organization has the status of a Section within the American Accounting Association (AAA), a nonprofit association incorporated under the laws of the state of Illinois. These by-laws are to explain that status within this relationship. Any conflict between these by-laws and any rules or regulations of the AAA shall be resolved in favor of the parent organization.

III. Purpose and Objectives

The purpose of the Financial Accounting and Reporting Section is to give greater attention to the area of financial accounting and reporting. To fulfill this purpose, the Section has established objectives in three areas:

  1. Education - to discuss, test, and disseminate various ways of teaching financial accounting and reporting, and related topics:
    1. to foster the development and study of teaching methods and aids and to give publicity thereto;
    2. to review and evaluate teaching materials submitted for such purposes; and
    3. to strive, in general, to improve the effectiveness and efficiency of instruction in this area.
  2. Research - to encourage, facilitate, and publicize research interests and projects in the financial accounting and reporting area:
    1. to communicate interests, intentions, and actual work-in-process in the area and, if possible, assist in obtaining seed money;
    2. to identify areas in need of research; and
    3. to give opportunity for public exposure of research results through AAA meetings (annual, regional, and special meetings devoted solely to financial accounting and reporting) and publications (including working papers and a separate journal for financial accounting and reporting, if warranted).
  3. Profession - to create an opportunity for closer association between the practicing profession and instructors of financial accounting and reporting subjects.
    1. to provide a medium through which each can become better acquainted with the others' problems and successes;
    2. to create, in general, a better climate for interchange between the two groups; and
    3. to offer a formal medium through which greater cooperation may be achieved.

IV. Membership

  1. Any member or associate member in good standing of the AAA supporting the purposes and objectives of this Section will be enrolled as a regular member or as an associate member, respectively, upon payment of annual dues to the Administrative Office of the AAA, or other representative of the Section authorized.
  2. All members are eligible to vote, hold office, participate in all activities of the Section and be entitled to all its other privileges. Associate members are eligible to participate in all activities of the Section and be entitled to all its other privileges except those of voting and holding offices.
  3. The amount and type of annual dues and the payment schedule will be proposed by the Section Executive Committee subject to approval of the membership present at the annual business meeting of the Section. Associate members' dues will be set by the AAA Executive Committee.
  4. The Executive Committee of the Financial Accounting Reporting Section shall have the discretionary power to raise the annual dues of the Section to a maximum of $30.
  5. The Section may charge fees to participating individuals for publications, special activities, and meetings, except for regular sessions at national and regional AAA meetings. These fees will be set by the AAA Executive Committee.
  6. The Section shall be authorized to accept gifts and grants.

V. Officers and Duties

  1. The duties and terms of office shall be those specified for officers of sections by the AAA. These are as follows:

    1. President - The President shall serve a one year term. The duties of the President shall be:
      1. to direct the affairs of the Section and carry out the programs formulated by the Section members at the annual meeting with the advice of the Executive Committee.
      2. to preside at the annual and other meetings of the Section.
      3. to preside over meetings of the Executive Committee.
      4. to cooperate with the AAA President relative to sectional activities at the AAA annual meeting.
      5. to charge and appoint committees and taskforces, when necessary.
      6. to report periodically to the AAA Executive Committee regarding section activities.
      7. to serve on Council.


    2. President-Elect - The President-Elect shall be elected for a one year term and upon completion of this term shall automatically become President. The duties of the President-Elect shall be:
      1. to direct the affairs of the Section in the event the President is unable to serve.
      2. to preside at Section meetings if the President is unable to preside.
      3. to appoint Regional Directors and Regional Directors-Elect.
      4. to work with the Section Regional Directors and the AAA Regional Vice-Presidents to encourage Section involvement at regional meetings of the AAA.
      5. to perform other duties assigned by the President.


    3. Vice-President (to be elected from the practicing profession) - The Vice-President shall be elected for a two-year term and shall not be eligible for immediate re-election. The duties of the Vice-President shall be:
      1. to direct the affairs of the Section in the event that the President and President-Elect are unable to serve.
      2. to preside at Section meetings if the President and President-Elect are unable to preside.
      3. to facilitate relationships with the accounting practice community.
      4. to perform other duties assigned by the President.


    4. Secretary-Treasurer - The Secretary-Treasurer shall be elected for a two-year term and shall not be eligible for immediate re-election. The duties of the Secretary-Treasurer shall be:
      1. to supervise the keeping of records of section meetings, activities, and procedures.
      2. to work with the AAA Administrative Office relative to collection and disbursement of Section funds.
      3. to work with the AAA Administrative Office regarding all facets of Section membership.
      4. to prepare an annual report of the financial status of the Section.


    5. Immediate Past-President - The Immediate Past-President will serve for one year immediately following his or her term as President. The duties of the Immediate Past-President shall be:
      1. to advise the President, particularly with regard to past activities of the Section.
      2. to perform duties assigned by the President.


    6. Editor - An Editor shall be appointed by the President when the position becomes open. The duties of the Editor shall be:
      1. to provide assistance and guidance for the dissemination of information to members, such as through newsletters and bulletins.


    7. Regional Director - A Regional Director for each region recognized by the AAA shall be appointed by the President-Elect to serve a one-year term. The duties of Regional Directors shall be:
      1. to work, under the direction of the President-Elect, with AAA Regional Vice-Presidents to encourage Section involvement at regional meetings of the AAA.
      2. to coordinate other regional activities of the Section under the direction of the President-Elect.


    8. Regional Director-Elect - A Regional Director-Elect for each region recognized by the AAA shall be appointed by the President-Elect to serve a one-year term and upon completion of this term shall automatically become Regional Director. The duties of Regional Directors-Elect shall be:
      1. to support the Regional Director in carrying out his or her duties.


    9. Second Representative on Council - A second Representative on Council shall be selected (when appropriate) by the Nominating Committee to serve a one-year term.

    10. The Steering Board - The purpose of the Steering Board is to enhance organizational continuity by overseeing the implementation of all FARS-sponsored activities on an ongoing basis.

      1. Membership of the Steering Board
        Members of the Steering Board include the current Executive Committee (President, President-Elect, Past-President, Vice-President, Secretary-Treasurer, and Editor) and eight additional At-Large members. Each at-large member serves a two-year term and may be reappointed for a second consecutive term. All FARS members are eligible to serve as at-large Steering Board members. Other than the maximum four-year continuous service limit noted above, at-large members may include those with prior service in this role. At-large board members' terms are to be staggered so that, at most, four at-large members rotate off the board in any year.

      2. Selection Process for Board Members
        The President-elect shall appoint up to four FARS members to serve on the Steering Board as at-large board members.* It is expected that the President-elect will obtain input from the FARS membership and existing Officers and Steering Board members in formulating the appointments. At the end of the two-year service period (or earlier if vacancies exist), the then current President-elect shall appoint at most four new members (unless additional appointments are necessitated by vacancies).

      3. Semi-Annual Steering Board Meetings
        The Steering Board shall meet each year at the AAA Annual Meeting. A second optional spring meeting (as deemed necessary by the President) may take place to ensure adequate planning time prior to the section business meeting in August at the AAA Annual Meeting.

      4. Standing Committees
        The Steering Board will work with the President to appoint a set of standing committees to oversee section activities. The purpose of these committees is to obtain broader participation in FARS decision-making processes. Although the specific committees are to be determined at the discretion of the Steering Board and President, the following are illustrative of possible standing committees:

        Annual Meeting Committee: Responsible for organizing FARS concurrent and CPE sessions at annual meeting and working with current President in planning luncheon and obtaining a speaker.

        Awards Committee: Responsible for selecting winners of Best Paper and Best Dissertation Awards.

        Communications & Publications Committee: Responsible for FARS Web page and Newsletter.

        Regional Meetings Committee: Responsible for coordinating section involvement in AAA Regional meetings. This committee could consist of FARS Regional Directors.

        *In the first year of Steering Board formation the current President will appoint four additional members to bring the total number of at-large members to eight.


  2. The President, President-Elect, Immediate Past-President, Vice-President, Secretary-Treasurer and Editor shall constitute the Executive Committee. They shall be responsible for recommending plans, policies, rules, and procedures as needed to achieve the purposes and objectives of the Section to the membership at the annual meeting and for carrying out those plans, policies, rules, and procedures approved by the membership. The President and two other officers shall constitute a quorum.

  3. The Immediate Past-President and two Regional Directors shall constitute the Nominating Committee. The current year's Nominating Committee shall appoint two Regional Directors to serve on the following year's Nominating Committee. The Nominating Committee shall be chaired by the Immediate Past-President. After soliciting input from the membership, the Nominating Committee shall present nominations (for the offices coming vacant) for President-Elect, Vice-President, and Secretary-Treasurer to the Secretary-Treasurer at least sixty days prior to the annual meeting. All nominees must be members in good standing of the Section at that time and indicate a willingness to serve. Nominations may also be made from the floor in accordance with Robert's Rules of Order (Newly Revised). The Nominating Committee may not nominate a member from itself. However, Nominating Committee members are eligible for nomination from the floor at the annual business meeting. The Nominating Committee also shall select (when appropriate) the Section's second Representative on Council.

  4. Election of officers will be held at the annual business meeting. The results of the election shall be certified and announced by the Secretary-Treasurer. Newly elected officers shall assume office at the conclusion of the annual meeting. Regional Directors and Regional Directors-Elect shall also assume office at the conclusion of the annual meeting.

  5. In the event that the President is unable to serve, the President-Elect shall assume the duties of the President for the remaining term. In the event either the President-Elect, the Vice-President or the Secretary-Treasurer is unable to serve, the Executive Committee shall name a member to serve the remaining term.

  6. Section officers are authorized to initiate and carry out the duties of their offices.

  7. Disbursements may be authorized by the President or the Secretary-Treasurer. Those in excess of $500 must be approved by the President unless otherwise authorized.

  8. Each year, each officer shall render a report to the membership in an appropriate fashion.

VI. Compensation

No officer shall receive honoraria, professional fees, stipends, or other compensation for the performance of Section duties. However, officers may be reimbursed from Section funds for expenses incurred in connection with the performance of their duties in accordance with standard AAA expense reimbursement policies.

VII. Meetings

The Section shall hold an annual meeting. This meeting and any other meetings shall be held at such time and place as determined by the Executive Committee. Written notice of the time, place, and agenda of a meeting shall be provided to the membership at least thirty days prior to the meeting. A quorum at such duly called meetings shall consist of those members present. All matters presented at a meeting shall be decided by majority vote.

VIII. Publications

The Section shall publish newsletters, proceedings, working papers, monographs, journals, teaching aids, and other materials as approved by the AAA Executive Committee and in accordance with the policies of the AAA.

IX. Amendments

Amendments to these By-Laws may be proposed by the Executive Committee or by petition of not less than 20 members of the Section. Amendments shall be submitted at least thirty days prior to the annual meeting and presented to the membership at the next annual business meeting or, at the discretion of the Executive Committee, by mail ballot. Amendments shall be adopted if approved by two-thirds of the membership voting at the annual meeting or by two-thirds of those returning a mail ballot.

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